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Search resuls for: "China's overcapacity"


8 mentions found


☆ Canada trade minister discusses tariffs on Chinese EVs
  + stars: | 2024-09-24 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTariffs on Chinese EVs are to protect Canadian workers and industries, want fair trade: MinisterMary Ng, Canada's Minister of Export Promotion, International Trade and Economic Development says the tariffs are to deal with China's overcapacity and over-subsidization in the EV sector.
Persons: Mary Ng, China's overcapacity Organizations: Canada's, Export, Trade, Economic Development, EV
☆ The West is freaking out that China is making too much stuff, and it looks like China might be starting to agree
  + stars: | 2024-05-09 | by ( Huileng Tan | ) www.businessinsider.com   time to read: +4 min
The proposal covers a range of issues, including minimum technical standards and ecological guidelines for battery production. AdvertisementChina's battery production in 2023 alone was already big enough to fill global demand, according to an analysis from BloombergNEF. China's global share of battery manufacturing capacity is expected to fallDespite the West's consternation, there is an upside for the bloc. China's global share of battery manufacturing is expected to decline in the years ahead, according to a report from the International Energy Agency, or IEA, published on Monday. AdvertisementChina now accounts for more than 80% of battery manufacturing capacity, followed by the US and the EU with around 5% each, per the IEA.
Persons: China's, —, Xi Jinping's, Louise Loo, Loo, Chim Lee, Lee Organizations: Service, China's Ministry of Industry, Information Technology, European Union, Oxford Economics, Economist Intelligence, International Energy Agency, US, EU Locations: China, Beijing, Canada, Europe, India
☆ Saudi Arabia's oil giant boss speaks up for China, saying its massive production of solar panels and EVs helps affordability
  + stars: | 2024-04-23 | by ( Huileng Tan | ) www.businessinsider.com   time to read: +5 min
Saudi Aramco CEO Amin Nasser praised China for making solar panels and electric vehicles affordable. Saudi Arabia is fostering closer ties with China and wooing Chinese investments and business partnerships. Unlike the West, Saudi Arabia is cozying up to China. "There are lots of opportunities for China to invest in Saudi Arabia," Alibrahim told the media outlet. In March last year, China brokered a détente between Saudi Arabia and Iran, prompting concerns over waning US influence in the Middle East.
Persons: Amin Nasser, Nasser, China's overcapacity, Janet Yellen, Olaf Scholz, China Nasser's, Faisal Alibrahim, Alibrahim, Jon Alterman Organizations: Saudi, Service, Saudi Aramco, World Energy, Financial Times, West, Nikkei, Aramco, Center for Strategic, International Studies, China Economic, Security Locations: China, Saudi Arabia, Saudi Aramco, Saudi, Rotterdam, East Asia, Beijing, Saudi Arabian, Iran, United States
☆ The US is headed for a much more aggressive trade war with China regardless of who is president next year, economist says
  + stars: | 2024-04-11 | by ( Yuheng Zhan | ) www.businessinsider.com   time to read: +3 min
A more intense trade war between the US and China is unavoidable, China Beige Book's Shehzad Qazi said. China would have many ways to sidestep heightened US restrictions in the event of a new trade war, Shehzad Qazi. AdvertisementA fiercer trade war between the US and China is inevitable, no matter who wins the presidential election in November, a top China expert said. "Our view is we're headed toward another trade war, regardless of who's president next year. Even in the face of a more aggressive trade war with the US, China has ways to skirt any restrictions, the COO said .
Persons: Qazi, Janet Yellen's, Shehzad Qazi, —, They're, Trump, Yellen, That's, Fitch Organizations: Service, Communist Party Locations: China, Beijing, Mexico
☆ A Chinese smartphone maker is breaking into EVs and challenging Tesla. How the stock rates now.
  + stars: | 2024-04-07 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +6 min
Just as the auto industry was grappling with BYD 's rapid rise, Chinese smartphone company Xiaomi has burst into the market — undercutting Tesla and vowing to become a global player. Meanwhile, Tesla last week revealed that its deliveries fell in the first quarter from a year ago . While he still likes Tesla longer-term , he and his team will hold a client webinar on Xiaomi, Tesla and global EVs on Tuesday. Xiaomi shares nearly reached that price during last week's surge. Meanwhile, Tesla shares are down 34% year to date.
Persons: BYD, Tesla, Lei Jun, Xiaomi, Morgan Stanley, Adam Jonas, Jonas, Morgan, Andy Meng, Meng, Taylor Ogan, Lei, Ogan, BEV, Nick Lai, Gokul Hariharan, Janet Yellen, overcapacity Organizations: Apple, Hong, Snow Bull, EV, JPMorgan, Treasury Locations: Hong Kong, China, Shenzhen, U.S
☆ Yellen warns China's surplus of solar panels, EVs could be dumped on global markets
  + stars: | 2024-03-27 | by ( Rebecca Picciotto | ) www.cnbc.com   time to read: +2 min
"China's overcapacity distorts global prices and production patterns and hurts American firms and workers, as well as firms and workers around the world." China has a surplus of solar power, electric vehicles and lithium-ion batteries that it can ship out to other countries at cheaper prices. Yellen said she intends to put pressure on Chinese officials about these trade practices during her upcoming visit to China. Meanwhile, China has been pouring billions into clean energy for years, outpacing the rest of the world in the energy transition. Yellen added that the more China's clean energy glut interferes with global market prices, the worse off supply chains for these energy sectors will be.
Persons: Janet Yellen, Yellen, Biden Organizations: Treasury, Financial Services, General Government, Rayburn House, White House, Biden Administration, Embassy Locations: Washington , DC, China, U.S, Georgia, Washington
☆ China's industrial push risks destabilizing the global economy and watering down green-energy exports, Janet Yellen warns
  + stars: | 2024-03-27 | by ( Aruni Soni | ) www.businessinsider.com   time to read: +1 min
US Treasury Secretary Janet Yellen warns that China's big industrial-production push could destabilize the global economy. China's growing clean energy industry has oversupplied markets with cheap solar panels and EVs, she said in prepared comments that will be delivered on Wednesday. "It is important to the president and me that American firms and workers can compete on a level playing field," Yellen said in speech text released by the Treasury. Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. "Challenges for individual firms can lead to concentrated supply chains, negatively impacting global economic resilience."
Persons: Janet Yellen, Yellen Organizations: Treasury, Service, New York Times, Business Locations: China, Norcross , Georgia
☆ Aluminum plants in the U.S. are releasing tons of a highly potent greenhouse gas, unlike their counterparts abroad
  + stars: | 2022-12-06 | by ( Phil Mckenna | Inside Climate News | ) www.cnbc.com   time to read: +7 min
In written testimony submitted to the U.S. International Trade Commission in 2017, Century Aluminum executives said aluminum producers were being "decimated" by "unfair practices of Chinese aluminum producers." "The continued viability of the aluminum industry outside of China, and especially in the United States, is dependent upon a prompt and effective solution to China's overcapacity and overproduction." Steinsen, of Century Aluminum, said the company has no plans to shut down its Sebree facility in Robards. A spokesperson for the agency said, "EPA continues to track facility specific emissions from the aluminum industry through the Greenhouse Gas Reporting Program." In 2019, 7,510 metric tons of PFCs were emitted from global aluminum production, according to a study published last year in the Journal of Geophysical Research — Atmospheres.
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